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India's Minister for Electronics and IT, Ashwini Vaishnaw, announced that the government will unveil an Artificial Intelligence (AI) governance framework by September 28, aimed at defining safety boundaries to protect citizens from AI-related harm. The framework, developed through over 3,000 consultations, will not be "prescriptive" but will establish necessary checks and balances. Vaishnaw emphasized the importance of AI safety, particularly in light of challenges posed by synthetic content and deepfakes, and highlighted the upcoming AI Impact Summit scheduled for February 19-20, 2026, which will be inaugurated by Prime Minister Narendra Modi. The summit aims to foster a global consensus on AI governance, with discussions on inviting countries like China, which previously did not attend similar international summits. The minister reiterated India's commitment to balancing innovation with regulation, ensuring that necessary safety measures are eventually codified into law. 
Published: Sep 18 2025, 8 pmeznews.inThe recent decision by the GST Council to lower tax rates on various mass-consumption products to 5% has been hailed as a win for consumers, but it poses challenges for the fast-moving consumer goods (FMCG) supply chain. While shoppers enjoy reduced prices, manufacturers, distributors, and retailers are grappling with input tax credit (ITC) restrictions and rising embedded costs, which are straining their profit margins and tying up working capital. Industry experts highlight that while ITC remains available for goods taxed at 5%, certain services still face restrictions, complicating financial dynamics. As businesses navigate these challenges, the government anticipates that increased consumer spending will ultimately bolster tax revenues, despite the short-term cash flow pressures. Analysts suggest that while consumers may benefit from lower prices, the complexities of the supply chain could lead to increased costs being absorbed or passed on by manufacturers.
Published: Sep 18 2025, 10 pmeznews.inA high-level delegation of ambassadors and senior diplomats from the European Union and 17 European nations visited the Vizhinjam International Seaport, gaining insights into its strategic capabilities and future initiatives. The delegation, which included representatives from countries such as Germany, France, and Spain, was briefed by Divya S. Iyer, Director of VISL, and Pradeep Jayaraman, CEO of Adani Vizhinjam Port Pvt. Ltd., on the port's status as India’s first semi-automated container port, equipped with advanced technologies like an AI-powered Vessel Traffic Management System. The visit also highlighted the port's commitment to community development, including ₹114 crore in compensation for local residents and a ₹250 crore modern fishing harbour project. Additionally, discussions focused on the port's sustainability roadmap, featuring projects on green hydrogen and eco-friendly infrastructure, aligning with India’s Green Shipping Revolution. This visit underscores Vizhinjam's growing significance in global trade and its role in shaping India's maritime future.
Published: Sep 18 2025, 9 pmeznews.inThe US State Department has revoked a sanctions exception for Iran, initially granted in 2018 for Afghanistan reconstruction, effective September 29, 2025. This move poses a significant threat to India's investments in the Chabahar port and related projects. The Department's statement warned that individuals involved in Chabahar operations could face sanctions under the Iran Freedom and Counter-Proliferation Act (IFCA). This decision aligns with former President Donald Trump's strategy to isolate Iran. In May 2024, India had signed a 10-year agreement to manage Chabahar Port, investing approximately $120 million, with an additional $250 million to be raised as debt. This agreement aimed to enhance connectivity between India, Afghanistan, and Central Asia, bypassing Pakistan. Cargo handling at the port has been increasing, with volumes reaching 80,000 twenty-foot equivalent units and 3 million tonnes of bulk cargo in FY25. India has also supplied $24 million worth of port equipment for its development.
Published: Sep 18 2025, 9 pmeznews.inFinance Minister Nirmala Sitharaman announced on Thursday that various sectors are committed to passing on the benefits of recent Goods and Services Tax (GST) rate cuts to consumers, which she believes will stimulate demand and create jobs. Speaking at the "Next-Gen GST Reforms" event in Kolkata, she highlighted that many businesses have publicly pledged to ensure these savings reach customers, potentially leading to increased production and employment. Sitharaman asserted that the impact of the GST cuts would be significantly greater than benefits from the Production Linked Incentive (PLI) scheme, estimating an injection of nearly ₹2 lakh crore into the economy. However, she clarified that the Centre will not provide compensation to states for any revenue losses resulting from the rate cuts, emphasizing that both the Centre and states share the financial impact equally. The GST Council operates on principles of equality, with revenue distribution affecting both levels of government.
Published: Sep 18 2025, 9 pmeznews.inChennai-based Refex Renewables & Infrastructure has announced plans to expand its business by entering the fertiliser market, which will include a range of products such as chemical, organic, and bio-based fertilisers. In an exchange filing, the company revealed it has approved an alteration to its Memorandum of Association to facilitate this new venture, which will encompass various types of fertilisers, including Fermented Organic Manure (FOM), Liquid Fermented Organic Manure (LFOM), and bio-pesticides, among others. The new product line, branded as ‘Biodhanic’, will focus on manure, including organic options. The company indicated that the investment required for this expansion will be influenced by factors such as processing, branding, and marketing costs. This strategic move marks a significant diversification for Refex, aligning with growing trends in sustainable agriculture.
Published: Sep 18 2025, 9 pmeznews.inIndia's coffee production for the 2025-26 crop year is projected to reach a record 4.03 lakh tonnes, marking an 11% increase from the previous year's estimates of 3.63 lakh tonnes, according to the Coffee Board's post-blossom estimates. This includes arabica output of 1.18 lakh tonnes, up 12%, and robusta at over 2.84 lakh tonnes, a 9.5% rise. Traditional coffee-growing states Karnataka, Kerala, and Tamil Nadu are expected to contribute significantly, with Karnataka alone forecasted to produce 2.80 lakh tonnes. However, concerns loom over the impact of excessive rainfall, which has led to early onset of diseases like black rot and fruit rot, potentially affecting yields. Experts express skepticism about the optimistic estimates, particularly for arabica, citing challenges from the heavy monsoon and poor pollination. Overall, while the outlook appears promising, the actual figures may vary significantly post-monsoon.
Published: Sep 18 2025, 8 pmeznews.inThe US Embassy in India has revoked and denied visas for certain Indian business executives linked to the trafficking of fentanyl precursors, although the individuals' names were not disclosed. This decision affects not only the executives but also their close family members, who may face travel restrictions to the United States. The Embassy emphasized its commitment to combating illicit drug trafficking, stating that those involved in the illegal drug trade will face significant consequences. This action follows recent indictments against India-based companies, including Raxuter Chemicals and Vasudha Pharma Chem Ltd, for their roles in distributing fentanyl precursor chemicals. The US has prioritized halting the flow of these dangerous substances, and the Embassy expressed gratitude for the cooperation of the Indian government in addressing this transnational issue. The measures are part of ongoing efforts to enhance safety and security against synthetic narcotics.
Published: Sep 18 2025, 8 pmeznews.inAs of September 18, the India Meteorological Department (IMD) reported an 8% surplus in monsoon rainfall, contributing to nearly 90% capacity in the country's 161 key reservoirs. Data from the Central Water Commission (CWC) indicated that storage levels reached approximately 163.909 billion cubic metres (BCM), significantly higher than last year and 19.25% above the 10-year average. Notably, 20% of dams are full, with 32% filled over 90%. The northern region, particularly Punjab, Rajasthan, and Himachal Pradesh, saw storage levels exceeding 90%, while Maharashtra's reservoirs were at 97% capacity. The situation is promising for the agriculture sector, especially for the upcoming rabi season. Despite the monsoon entering a withdrawal phase, ongoing rainfall is expected to further increase reservoir levels across various states, including Gujarat, Madhya Pradesh, and Telangana.
Published: Sep 18 2025, 8 pmeznews.inAverage prices for key kharif pulses and oilseeds have fallen significantly below their minimum support prices (MSPs) for the 2025-26 season, raising concerns for farmers and the government. Groundnut, for instance, was sold at ₹5,682 per quintal, well below its MSP of ₹7,263, while moong and urad also saw substantial price drops. Experts warn that if prices remain low following the fresh harvests expected from mid-October, the government may need to intervene through its price support scheme. Agriculture Minister Shivraj Singh Chouhan acknowledged the issue, noting that farmers make decisions based on their circumstances. Meanwhile, Karnataka and Telangana's agriculture ministers have called for immediate procurement to support farmers facing depressed market rates. The agriculture ministry has reported a decline in acreage for several crops, raising fears of reduced production, particularly due to adverse weather conditions in key growing states.
Published: Sep 18 2025, 8 pm
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